Raytheon Receives $155.6 M Rolling Airframe Missile Contract
- Largest RAM agreement for German navy
Raytheon Company (NYSE: RTN) was awarded a $155.6 million contract to manufacture Block 2 Rolling Airframe Missiles for delivery to the German navy. It represents the largest single RAM award by Germany. The contract was awarded in Raytheon's first quarter of 2013.
RAM is a cooperative program between the U.S. and German governments with industry support from Raytheon and RAMSYS of Germany. The contract calls for production work to be shared between both companies.
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"This sale is the result of more than 35 years of unmatched testing achievements and capability improvements," said Dr. Taylor W. Lawrence, president of Raytheon Missile Systems. "It complements the $100 million RAM Block 2 production contracts with the U.S. Navy signed in 2012 and follows our company's 11 critical Block 2 development test flights. RAM is on solid footing to begin government testing in May."
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RAM is a supersonic, lightweight, quick reaction, fire-and-forget missile providing defense against anti-ship cruise missiles, helicopter and airborne threats, and hostile surface craft. The missile's autonomous dual-mode, passive radio frequency and infrared guidance design provides a high-firepower capability for engaging multiple threats simultaneously. RAM is aboard nearly 100 ships as an integral self-defense weapon for the navies of Egypt, Germany, Greece, Japan, Republic of Korea, Turkey, the United Arab Emirates and the United States.
The RAM Block 2 upgrade includes a four-axis independent control actuator system and an increase in rocket motor capability, increasing the missile's effective range and delivering a significant increase in maneuverability. The improved missile also incorporates an upgraded passive radio frequency seeker and a digital autopilot.
Source : Raytheon Corporation (NYSE: RTN)